When it comes to leasing properties in the Philippines, it is essential to have a well-written and comprehensive lease agreement that includes all the necessary details. However, there may be instances where you need to add or modify certain terms or conditions to the original agreement. In such cases, a sample addendum to a contract of lease in the Philippines can come in handy.
What is an Addendum to a Contract of Lease?
An addendum is a document that is added to the original contract of lease to modify, add, or clarify certain terms or conditions. It is a legal and binding agreement that must be signed by both parties and attached to the original lease agreement.
Why is an Addendum Necessary?
An addendum can be necessary for a variety of reasons. Perhaps the landlord wishes to increase the rent or add a new clause to the original agreement. Or maybe the tenant wants certain modifications to the lease agreement, such as adding an option to renew or changing the payment terms. Whatever the case may be, an addendum allows for the necessary changes to be made without having to create a whole new lease agreement.
Sample Addendum to a Contract of Lease Philippines
[Insert Date]
[Insert Name of Tenant]
[Insert Address of Tenant]
Dear [Insert Name of Tenant],
This addendum to the contract of lease dated [Insert Date of Lease Agreement] is made between [Insert Name of Tenant] and [Insert Name of Landlord].
The parties agree to the following modifications/additions:
1. Rent Increase: The monthly rent shall be increased from [Insert Current Rent] to [Insert New Rent], effective [Insert Date of Rent Increase].
2. Security Deposit Increase: The security deposit shall be increased from [Insert Current Security Deposit] to [Insert New Security Deposit], effective [Insert Date of Security Deposit Increase].
3. Pet Policy: Pets are not allowed in the premises without the prior written consent of the landlord. [Insert Further Details]
4. Maintenance and Repairs: The tenant shall be responsible for the cost of repairs due to damages caused by negligence or misuse of the property.
5. [Insert Additional Modifications/Additions]
This addendum shall be attached to and become a part of the original contract of lease. All other terms and conditions of the original contract shall remain unchanged.
Signed:
[Insert Name of Tenant]
[Insert Signature of Tenant]
[Insert Name of Landlord]
[Insert Signature of Landlord]
Conclusion
Adding an addendum to a contract of lease in the Philippines can be a useful tool to modify or add terms to the original agreement. It is crucial to ensure that both parties agree and sign the document to make it legally binding. A well-written and comprehensive addendum can help avoid disputes and clarify any misunderstandings that may arise during the lease agreement.